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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 222.69

+0.1%

Nov 19 3:59 PM EST

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To: Winter who wrote (3207)	4/21/1998 12:47:00 PM
From: Walter High	Read Replies (3) of 164684

Winter: Agree with everything you say. Notice I didn't recommend that people buy Amazon and try to ride the wave. I question going short, however, during a mania. Riding KTEL from 40 to 80 while waiting for the inevitable fall can prove disastrous. I know; I suffered trying to ride out AOL and finally threw in the towel. I shorted AOL when it was having all those problems a year ago and then announced that it had to restate earnings and was going to lose a ton of money in the upcoming quarter. It now sits more than 100 points above where I shorted it. (Fortunately, I got out long before that point, but it was still painful.) My point is that there are better things you can do with your money that take the risks associated with shorting, even using protective puts. After all, the best you can do with a short is double your money, right? If it takes a year or more, you might have done a lot better than that betting on good growth stocks. And the best scenario for a short is having the stock go to 1 which is unlikely. Walter High

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